U.S. Natural Gas Futures Jumpy As June Expires
0936 ET – U.S. natural gas futures turn lower in volatile trade as the June contract approaches final settlement. Daily cooling remains subdued later this week but is on pace to pick up dramatically after that, Eli Rubin of EBW Analytics says in a note. 'As July becomes the Nymex front-month, firmer mid-summer fundamentals may align with bullish technicals to increase chances for pricing upside,' he says. Still, the likelihood of weak spot prices into early June 'offers bulls caution.' The June contract is off 1.1% at $3.361/mmBtu and gas for July delivery is down 1.2% at $3.698/mmBtu. (anthony.harrup@wsj.com)
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